Chevron Co. (NYSE:CVX) Shares Acquired by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co lifted its stake in Chevron Co. (NYSE:CVX - Free Report) by 8.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,083,929 shares of the oil and gas company's stock after purchasing an additional 86,143 shares during the period. CANADA LIFE ASSURANCE Co owned about 0.06% of Chevron worth $156,956,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Allianz SE acquired a new position in Chevron during the 4th quarter worth approximately $9,369,000. Nicholas Company Inc. raised its stake in Chevron by 4.3% in the fourth quarter. Nicholas Company Inc. now owns 80,025 shares of the oil and gas company's stock valued at $11,591,000 after buying an additional 3,280 shares in the last quarter. Applied Finance Capital Management LLC boosted its position in shares of Chevron by 1.6% during the 4th quarter. Applied Finance Capital Management LLC now owns 179,815 shares of the oil and gas company's stock worth $26,044,000 after acquiring an additional 2,755 shares in the last quarter. Cerity Partners LLC lifted its stake in Chevron by 4.5% during the fourth quarter. Cerity Partners LLC now owns 1,205,747 shares of the oil and gas company's stock worth $174,817,000 after purchasing an additional 52,307 shares during the last quarter. Finally, Dale Q Rice Investment Management Ltd acquired a new position in Chevron in the fourth quarter valued at approximately $594,000. Hedge funds and other institutional investors own 72.42% of the company's stock.

Insider Buying and Selling at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of the business's stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following the sale, the vice president now directly owns 1,057 shares in the company, valued at $161,192.50. The trade was a 89.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

CVX has been the subject of several research analyst reports. Royal Bank of Canada restated an "outperform" rating and issued a $175.00 target price on shares of Chevron in a report on Monday, February 3rd. Barclays reduced their price objective on Chevron from $174.00 to $171.00 and set an "overweight" rating for the company in a research note on Wednesday, February 5th. Truist Financial cut their target price on shares of Chevron from $164.00 to $160.00 and set a "hold" rating on the stock in a report on Tuesday, February 4th. Raymond James dropped their price objective on shares of Chevron from $180.00 to $175.00 and set an "outperform" rating on the stock in a research note on Monday, February 3rd. Finally, UBS Group lowered their price target on Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a report on Monday, April 7th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $169.50.

Chevron Price Performance

Shares of CVX traded up $2.32 during trading hours on Friday, reaching $137.68. The company had a trading volume of 8,423,604 shares, compared to its average volume of 7,924,904. The company has a market capitalization of $242.39 billion, a price-to-earnings ratio of 14.16, a PEG ratio of 1.46 and a beta of 0.93. Chevron Co. has a 12-month low of $132.04 and a 12-month high of $168.96. The firm has a 50 day simple moving average of $153.54 and a 200-day simple moving average of $153.42. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same quarter last year, the company earned $3.45 EPS. Research analysts expect that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.97%. This is an increase from Chevron's previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Friday, February 14th. Chevron's payout ratio is presently 70.37%.

About Chevron

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.